DR/IDR, fractals, break + EMA Clouds + VWAPThis indicator is a powerful, multi-layered trading tool that combines three distinct forms of market analysis—volume, trend, and opening volatility—onto a single chart.
1. Opening Range Breakout (ORB) System
This is the foundation of the indicator, designed to capture the initial volatility and set key price boundaries for the trading day.
Time Focus: The indicator's primary analysis is centered on a specific, user-defined time period (default is 9:30 AM to 10:30 AM New York Time). Nothing related to the ORB drawing will appear on the chart before this session starts.
Wick High/Low (The Trigger): These lines track the absolute highest and lowest prices reached during the time window. They define the full extent of the initial range and are used to determine when a genuine breakout occurs.
Body High/Low (The Range & Targets): These lines track the highest and lowest open/close prices of the candles within the session. This area forms the central, shaded zone, representing the core consolidation area.
Range Shading: The background between the Body High and Body Low is shaded, but this visual feature only appears during the active forming time window (e.g., 9:30 AM to 10:30 AM) to maintain chart clarity.
Fractals: While the range is forming, the indicator detects 5-bar Williams Fractal patterns that occur inside the range. These small triangles (▲ or ▼) highlight minor reversal points established by the early trading action.
Breakout Signal: After the user-defined time window closes, the indicator waits. If a subsequent candle's price moves above the Wick High or below the Wick Low, a "BREAK" label is displayed on that candle. It is programmed to label only the first decisive break in each direction per day.
Extension Targets: When a breakout occurs, target lines are automatically projected above the Body High (for a bullish break) or below the Body Low (for a bearish break). The distance between these targets is calculated based on a user-defined fraction (e.g., 0.5 steps) of the total height of the Body Range.
Line Cutoff: For tidiness, you can set a "Stop Time" (e.g., 4:00 PM) after which the ORB lines will automatically disappear.
2. EMA Clouds (Trend and Momentum)
Four distinct Exponential Moving Average (EMA) clouds are plotted to provide a dynamic, multi-speed view of the market's trend and momentum.
Structure: Each "Cloud" is the shaded area between two EMAs (one shorter length and one longer length). The indicator includes four customizable pairs (defaulting to common settings like 8/9, 8/14, 34/50, and 14/21).
Trend Coloring: The clouds are color-coded:
Bullish (Greenish): The shorter EMA is trading above the longer EMA, signaling upward momentum.
Bearish (Reddish): The shorter EMA is trading below the longer EMA, signaling downward momentum.
Application: These clouds are used to confirm the overall market direction or identify potential zones of support and resistance.
3. Volume-Weighted Average Price (VWAP)
The VWAP is a crucial anchor for measuring the market's efficiency throughout the trading day.
Function: It calculates the average price of the asset, giving more weight to prices where higher volume was traded.
Context: It helps traders quickly determine if the current price is trading at a premium (above VWAP) or a discount (below VWAP) relative to the day's volume.
Reset: The VWAP line automatically resets at the beginning of each trading day.
Customization: The VWAP line can be toggled on or off, and its color and width are fully adjustable.
Williams Fractal
DR/IDR fractals break candle (ChadAnt)This indicator is an Opening Range Breakout (ORB) tool. It identifies the high and low price range established during a specific time window (e.g., the first hour of trading, 9:30–10:30 AM NY time). Once that time window closes, it watches for the price to "break out" of that range and projects profit targets based on the size of the initial range.
Key Features & How They Work
1. The Opening Range (The Box)
Time Window: The indicator waits for your specific start time (default 9:30 AM NY). It does not draw anything before this time.
The "Wicks": It tracks the absolute highest and lowest prices reached during this time (the Wicks). These act as your Breakout Triggers.
The "Body": It tracks the highest and lowest candle closes/opens during this time. This creates a shaded "zone" on your chart, representing the core area where most trading occurred.
Shading: To keep your chart clean, the background shading only appears during the forming time window.
2. Breakout Signals
Once the time window ends (e.g., 10:30 AM), the indicator "locks" the levels.
It then waits for a candle to move above the Wick High or below the Wick Low.
The Signal: When this happens, a label ("BREAK") appears on the chart.
Green Label: Bullish breakout (price went above the range).
Red Label: Bearish breakout (price went below the range).
Note: It only signals the first breakout of the day to avoid false alarms during choppy markets.
3. Extension Targets (Profit Levels)
When a breakout signal occurs, the indicator automatically draws target lines (extensions).
Calculation: These targets are based on the height of the "Body" zone (the shaded area).
Example: If your setting is 1.0, the indicator measures the height of the shaded body range and projects that exact distance above the breakout point. This is often used as a "Measured Move" target.
You can customize how many lines appear and how far apart they are (e.g., 0.5, 1.0, 1.5 times the range size).
4. Williams Fractals
During the opening range time, the indicator looks for specific price patterns called "Williams Fractals" (a 5-candle pattern that highlights potential turning points).
If a fractal peak or valley occurs inside your opening range, it marks it with a small triangle (▲ or ▼). Traders often use these as early signs of support or resistance forming inside the range.
5. Clean Visuals
Line Cutoff: You can set a "Stop Time" (e.g., 16:00 or 4:00 PM). The lines will stop drawing at that time so they don't clutter your chart overnight.
Gap Handling: The lines are programmed to break cleanly between days, so you don't see messy diagonal lines connecting yesterday's close to today's open.
Summary of Settings You Can Change
Session Time: When the range starts and ends.
Line Stop Time: When the lines should disappear for the day.
Visuals: Colors, line width, and style (solid, dotted, dashed).
Extensions: How many target lines to draw and the step size (e.g., 0.5x, 1.0x).
Fractals: Toggle the triangle icons on/off.
Fractal Levels Monitor w/ Trade Lines (ChadAnt) v2Small update. Prevents the break candle from getting another signal after the first buy/sell signal detected.
1. Fractal Level Detection
The indicator identifies Fractals, which are simply a series of bars where the center bar has the highest high (Bearish Fractal) or the lowest low (Bullish Fractal) compared to a set number of bars on either side (determined by the "Fractal Period" input, usually 2 to 5 bars).
Bullish Fractal Level (Support): The indicator plots a horizontal line at the lowest low of the most recently formed Bullish Fractal.
Bearish Fractal Level (Resistance): It plots a horizontal line at the highest high of the most recently formed Bearish Fractal.
2. The "Cross Candle" Event
The core idea isn't to trade the fractal itself, but the reaction after the fractal level is broken.
When the price breaks and closes through the established Bullish Level (support) or Bearish Level (resistance), that bar is marked as the Cross Candle.
This Cross Candle's High and Low are saved. This is the "setup" for the trade.
3. The Trade Signal (Entry Trigger)
A trade is only taken when the price breaks the extreme (High or Low) of the Cross Candle.
Buy Signal: The trade is entered long if the price breaks above the High of the Cross Candle.
Sell Signal: The trade is entered short if the price breaks below the Low of the Cross Candle.
Fractal Levels Monitor w/ Trade Lines (ChadAnt)1. Fractal Level Detection
The indicator identifies Fractals, which are simply a series of bars where the center bar has the highest high (Bearish Fractal) or the lowest low (Bullish Fractal) compared to a set number of bars on either side (determined by the "Fractal Period" input, usually 2 to 5 bars).
Bullish Fractal Level (Support): The indicator plots a horizontal line at the lowest low of the most recently formed Bullish Fractal.
Bearish Fractal Level (Resistance): It plots a horizontal line at the highest high of the most recently formed Bearish Fractal.
2. The "Cross Candle" Event
The core idea isn't to trade the fractal itself, but the reaction after the fractal level is broken.
When the price breaks and closes through the established Bullish Level (support) or Bearish Level (resistance), that bar is marked as the Cross Candle.
This Cross Candle's High and Low are saved. This is the "setup" for the trade.
3. The Trade Signal (Entry Trigger)
A trade is only taken when the price breaks the extreme (High or Low) of the Cross Candle.
Buy Signal: The trade is entered long if the price breaks above the High of the Cross Candle.
Sell Signal: The trade is entered short if the price breaks below the Low of the Cross Candle.
3C FractalsIts based on Williams Fractals indicator, but instead of using 5 candles to mark the fractals, it uses only 3.
Williams FractalsBoaBias Fractals High & Lows is an indicator based on Bill Williams' fractals that helps identify key support and resistance levels on the chart. It displays horizontal lines at fractal highs (red) and lows (green), which extend to the current bar. Lines automatically disappear if the price breaks through them, leaving only the relevant levels. Additionally, the indicator shows the price values of active fractals on the price scale for convenient monitoring.
Key Features:
Customizable Fractals: Choose between 3-bar or 5-bar fractals (default: 3-bar).
Period: Adjust the number of periods for calculation
Visualization: Red lines for highs (resistance), green for lows (support). Lines are fixed on the chart and persist during scrolling or scaling changes.
Alert System: Notifications for the formation of a new fractal high/low and for level breaks (Fractal High Formed, Fractal Low Formed, Fractal High Broken, Fractal Low Broken).
How to Use:
Add the indicator to the chart.
Configure parameters: select the fractal type (3 or 5 bars) and period.
Set up alerts in TradingView to receive notifications about new fractals or breaks.
Use the lines as levels for entry/exit positions, stop-losses, or take-profits in fractal-based strategies.
Troubleshooting: If Levels Are Not Fixed on the Chart
If the levels (fractal lines) do not stay fixed on the chart and fail to move with it during scrolling or scaling (e.g., they remain stationary while the chart shifts), this is typically due to the indicator's scale settings in TradingView. The indicator may be set to "No scale," causing the lines to desynchronize from the chart's price scale.
What to Do:
Locate the Indicator Label: On the chart, find the indicator label in the top-left corner of the pane (or where "BoaBias Fractals High & Lows" is displayed).
Right-Click the Label: Click the right mouse button on this label.
Adjust the Scale:
In the context menu, look for the "Scale" or "Pin to scale" option.
If it shows "Pin to scale (now no scale)" or similar, select "Pin to right scale" (or "Pin to left scale," depending on your chart's main price scale—usually the right).
Refresh the Chart: After changing the setting, refresh the chart (press F5 or reload the page), or toggle the indicator off and on again to apply the changes.
After this, the lines should move and scale with the chart during scrolling (horizontal or vertical) or zooming. If the issue persists, check:
TradingView Limits: The indicator may draw too many lines (maximum ~500 per script). If there are many historical fractals, older lines might not display.
Chart Settings: Ensure the chart is not in logarithmic scale (if applicable) or that auto-scaling is enabled.
Indicator Version: Verify you are using the latest script version (Pine Script v6) and check for errors in the TradingView console.
This indicator is ideal for traders working with Bill Williams' chaos theory or those seeking dynamic support/resistance levels. It is based on standard fractals but with enhancements for convenience: automatic removal of broken levels and integration with the price scale.
Note: The indicator does not provide trading signals on its own — use it in combination with other tools. Test on historical data before real trading.
Code written in Pine Script v6. Original template: Mit Nayi.
Zigzag Simple [SCL]🟩 OVERVIEW
Draws zigzag lines from pivot Highs to pivot Lows. You can choose between three different ways of calculating pivots:
• True Highs and Lows
• Williams pivots
• Oscillator pivots
🟩 HOW TO USE
This indicator can be used to understand market structure, which is arguably the primary thing you need to be aware of when trading. The zigzag by itself does not display a market structure bias, nor any information about prices of pivots, HH and HL labels, or anything like that. Nevertheless, a simple zigzag is perhaps the easiest and most intuitive way to understand what price is doing.
Choose a pivot style that you like, customise the colours and line style, and enjoy!
🟩 PIVOT TYPES EXPLAINED
True Highs and Lows
This is not an invention of mine (all credit to my humble mentor), but I haven't seen anyone else code them up. A true High is a close below the low of the candle with the highest high. A true Low is a close above the high of a candle with the lowest low. These are solid, price action-based pivots that can sometimes confirm quickly.
Williams pivots
This is how most people calculate pivots. They're simply the highest high for x bars back and x bars forwards. They're the vanilla of pivots IMO: serviceable but not very interesting. They're very convenient to code because there are built-in Pine functions for them: ta.pivothigh and ta.pivotlow . They confirm a predictable number of bars after they happen, which is great for coding but also makes the trader wait for confirmation.
Oscillator pivots
This is a completely different concept, which uses momentum in order to define pivots. For example, when you get a rise in momentum and momentum then drops a configurable amount, it confirms a pivot high, and vice versa for a pivot low. I don't know if anyone else does it –- although some indicators do mark pivots in momentum itself, and plenty do divergences, I wasn't able to find one that specifically marked *pivots in price* because of pivots in momentum 🤷♂️
Anyway, while this approach needs a whole investigation on its own, here we simply plot some pivots in a smoothed RSI. This indicator doesn't plot the actual momentum values -- for a more visual understanding of how this works, refer to the examples in the OscillatorPivots library.
🟩 UNIQUE ADVANTAGES
In contrast to other zigzag indicators available, this one lets you choose between the standard and some more unique methods of generating the zigzags. Additionally, because it's based on libraries, it is relatively easy for programmers to use as a basis for experimentation.
🟩 GEEK STUFF
Although there is considerable practical use for pivot-based zigzags in trading, this script is primarily a demonstration in coding -- specifically the power of libraries!
Most of the script consists of setup, especially defining inputs. The final section sacrifices some readability for conciseness, simply to emphasise how little code you need when the heavy lifting is done by libraries .
The actual calculations and drawing are achieved in just 8 lines.
The equivalent code in the libraries is ~250 lines long.
All libraries used are my own, public and open-source:
• MarketStructure
• DrawZigZag
• OscillatorPivots
Wick SweepThe Wick Sweep indicator identifies potential trend reversal zones based on price action patterns and swing points. Specifically, it looks for "Wick Sweeps," a concept where the market temporarily breaks a swing low or high (creating a "wick"), only to reverse in the opposite direction. This pattern is often indicative of a market attempting to trap traders before making a larger move. The indicator marks these zones using dashed lines, helping traders spot key areas of potential price action.
Key Features:
* Swing Low and High Detection: The indicator identifies significant swing lows and highs within a user-defined period by employing Williams fractals.
* Wick Sweep Detection: Once a swing low or high is identified, the indicator looks for price movements that break through the low or high (creating a wick) and then reverses direction.
* Fractal Plotting: Optionally, the indicator plots fractal points (triangle shapes) on the chart when a swing low or high is detected. This can assist in visually identifying the potential wick sweep areas.
* Line Plotting: When a wick sweep is detected, a dashed line is drawn at the price level of the failed low or high, visually marking the potential reversal zone.
Inputs:
* Periods: The number of bars used to identify swing highs and lows. A higher value results in fewer, more significant swing points.
* Line Color: The color of the dashed lines drawn when a wick sweep is detected. Customize this to match your chart's theme or preferences.
* Show Fractals: A toggle that, when enabled, plots triangle shapes above and below bars indicating swing highs (up triangles) and swing lows (down triangles).
Functionality:
* Swing High and Low Calculation:
- The indicator calculates the swing low and swing high based on the periods input. A swing low is identified when the current low is the lowest within a range of (2 * periods + 1), with the lowest point being at the center of the period.
- Similarly, a swing high is identified when the current high is the highest within the same range.
* Wick Sweep Detection:
- Once a swing low or high is detected, the script looks for a potential wick. This happens when the price breaks the swing low or high and then reverses in the opposite direction.
- For a valid wick sweep, the price should briefly move beyond the identified swing point but then close in the opposite direction (i.e., a bullish reversal for a swing low and a bearish reversal for a swing high).
- A line is drawn at the price level of the failed low or high when a wick sweep is confirmed.
Confirmations for Reversal:
* The confirmation for a wick sweep requires that the price not only break the swing low/high but also close in the opposite direction (i.e., close above the low for a bullish reversal or close below the high for a bearish reversal).
* The confirmation is further refined by checking that the price movement is within a reasonable distance from the original swing point, which prevents the indicator from marking distant, unimportant price levels.
Additional Notes:
* The Wick Sweep indicator does not provide standalone trading signals; it is best used in conjunction with other technical analysis tools, such as trend analysis, oscillators, or volume indicators.
* The periods input can be adjusted based on the trader’s preferred level of sensitivity. A lower period value will result in more frequent swing points and potentially more signals, while a higher value will focus on more significant market swings.
* The indicator may work well in ranging markets where price tends to oscillate between key support and resistance levels.
Current Fractal High/Low (Dynamic)
This indicator dynamically tracks the most recent confirmed Fractal High and Fractal Low across any timeframe using custom left/right bar configurations.
🔍 Key Features:
Detects Fractal Highs and Lows based on user-defined pivot settings.
Draws a green line and label ("FH") at the most recent Fractal High.
Draws a red line and label ("FL") at the most recent Fractal Low.
All lines extend from the confirmation bar to the current candle.
Automatically removes old lines and labels for a clean, uncluttered chart.
🛠️ Customizable Inputs:
Left & Right bars for pivot sensitivity
Line width for visibility
📌 Use Cases:
Identifying structure shifts
Recognizing key swing points
Supporting liquidity and breakout strategies
💡 Fractals are confirmed only after the full formation of the pattern (left and right bars). This ensures reliability over reactivity.
This script is designed for intraday to swing traders who want a reliable way to visualize market turning points with minimal noise.
Fractal Pattern AnalysisFractal Pattern Key Elements and How to Read Them
1. Williams Fractals (Triangle Markers)
Red Triangles Pointing Down: Bearish fractals - potential resistance points and selling opportunities
Green Triangles Pointing Up: Bullish fractals - potential support points and buying opportunities
When to Act: Look for bullish fractals forming during uptrends and bearish fractals during downtrends
2. Moving Averages
Yellow Line (20 EMA): Short-term trend
Blue Line (50 EMA): Medium-term trend
Red Line (200 EMA): Long-term trend
Interpretation: When shorter MAs cross above longer MAs, it's bullish; when they cross below, it's bearish
Key Signal: The alignment of all three MAs (stacked in order) confirms a strong trend
3. Background Color
Green Background: Uptrend (all MAs aligned bullishly)
Red Background: Downtrend (all MAs aligned bearishly)
Yellow Background: Sideways/neutral market (MAs not clearly aligned)
4. Market Structure Markers (Small Circles)
Green Circles: Higher highs and higher lows (bullish structure)
Red Circles: Lower highs and lower lows (bearish structure)
Pattern Recognition: Multiple green circles suggest continuing uptrend; multiple red circles suggest continuing downtrend
5. Reversal Diamonds ("Rev" Markers)
Yellow Diamonds: Potential trend reversal points
Usage: These mark where the current trend might be changing direction
Confirmation: Wait for price to close beyond the diamond before acting
6. Bollinger Bands (Blue Lines with Fill)
Middle Band: 20-period SMA
Upper/Lower Bands: Volatility channels
Signals: Price touching upper band in uptrend is strength; touching lower band in downtrend is weakness
Squeeze: When bands narrow, expect a volatility breakout soon
7. Status Table (Top Right)
Shows current trend, volume direction, and overall signal at a glance
"BUY" signal appears when multiple bullish conditions align
"SELL" signal appears when multiple bearish conditions align
Williams Fractals Ultimate (Donchian Adjusted)Williams Fractals Ultimate (Donchian Adjusted)
Understanding Williams Fractals
Williams Fractals are a simple yet powerful tool used to identify potential turning points in the market. They highlight local highs (up fractals) and local lows (down fractals) based on a set period.
An up fractal appears when a price peak is higher than the surrounding prices.
A down fractal appears when a price low is lower than the surrounding prices.
Fractals help traders spot support and resistance levels, potential trend reversals, and price breakout zones.
Why Adjust Fractals with the Donchian Channel?
The standard Williams Fractals method identifies local highs and lows without considering broader market context. This script enhances fractal accuracy by integrating the Donchian Channel, which tracks the highest highs and lowest lows over a set period.
- The Donchian Baseline is calculated as the average of the highest high and lowest low over a selected period.
- Fractals are filtered based on this baseline:
Up Fractals are only shown if they are above the Donchian baseline.
Down Fractals are only shown if they are below the Donchian baseline.
This filtering method removes weak signals and ensures that only relevant fractals aligned with market structure are displayed.
Key Features of the Script
Customizable Fractal & Donchian Periods – Allows traders to fine-tune fractal sensitivity.
Donchian-Based Filtering – Reduces noise and highlights meaningful fractals.
Fractal ZigZag Line (Optional) – Helps visualize price swings more clearly.
Why Is This So Effective?
Stronger trend signals – Filtering with the Donchian baseline eliminates unreliable fractals.
Clearer price action – The optional ZigZag line visually connects significant highs and lows.
Easy trend identification – Helps traders confirm breakout zones and key price levels.
This script is a technical analysis tool and does not guarantee profitable trades. Always combine it with other indicators and risk management strategies before making trading decisions.
Fractals with Flexible Visuals and Auto HTFPurpose:
This indicator displays fractals, including significant ones, with enhanced visual
flexibility and new visualization modes.
Functionality:
- Regular Fractals of Current Timeframe: **
Displays standard fractals based on the current chart timeframe.
- Significant Fractals: **
Recognizes significant fractals through a combination of apexes from the current
timeframe and a higher timeframe (HTF).
- Fractal Filtering: **
- Please note that this option makes some fractals dissapear, but someone finds this
to be useful.
- Fractal filtering has been made separate for Regular and Significant fractals.
- HH/LL Labels: **
HH/LL and LH/HL labels are now available separately for Regular and Significant
fractals.
- Automatic HTF Switching for Significant Fractals:
Added automatic HTF thresholds, removing the need to set HTF manually when changing
the chart's timeframe.
- Marker Relocation Modes:
- Mode 0:0
The fractal appears on the bar when it is recognized, not where it forms. This
mode assists traders who want to observe recognition in real-time when developing
strategies with fractals.
- Mode 1:1
The fractal appears on the previous bar when it is recognized, not where it forms.
- Mode 2:2 (General)
The fractal appears two bars back, where it is recognized, not when.
- Other additional Modes for Significant Fractals:
May be good for experimenting with Significant fractals. The first number
indicates bars back for the current timeframe; the second number indicates
bars back for the higher timeframe.
Other modes may assist with additional filtering or be suitable for specific
pairs or timeframes.
- Visual Adjustments:
Added user settings to customize visuals according to preferences.
Acknowledgment:
This indicator's functionality has been refactored from Fractals V9 by Ricardo
Santos (with gratitude to him):
()
'RSFractals' is not used as a name prefix, reflecting that this version lacks the
Zigzag and Pattern functionalities present in 'RSFractals'. If the original author
prefers a different naming convention, they may contact me, and I will gladly make
the adjustment.
Fractal Trail [UAlgo]The Fractal Trail is designed to identify and utilize Williams fractals as dynamic trailing stops. This tool serves traders by marking key fractal points on the chart and leveraging them to create adaptive stop-loss trails, enhancing risk management and trade decision-making.
Williams fractals are pivotal in identifying potential reversals and critical support/resistance levels. By plotting fractals dynamically and providing configurable options, this indicator allows for personalized adjustments based on the trader's strategy.
This script integrates both visual fractal markers and adjustable trailing stops, offering insights into market trends while catering to a wide variety of trading styles and timeframes.
🔶 Key Features
Williams Fractals Identification: The indicator marks Williams Fractals on the chart, which are significant highs and lows within a specified range. These fractals are crucial for identifying potential reversal points in the market.
Dynamic Trailing Stops: The indicator generates dynamic trailing stops based on the identified fractals. These stops adjust automatically as new fractals are formed, providing a responsive and adaptive approach to risk management.
Fractal Range: Users can specify the number of bars to the left and right for analyzing fractals, allowing for flexibility in identifying significant price points.
Trail Buffer Percentage: A percentage-based safety margin can be added between the fractal price and the trailing stop, providing additional control over risk management.
Trail Invalidation Source: Users can choose whether the trailing stop flips based on candle closing prices or the extreme points (high/low) of the candles.
Alerts and Notifications: The indicator provides alerts for when the price crosses the trailing stops, as well as when new Williams Fractals are confirmed. These alerts can be customized to fit the trader's notification preferences.
🔶 Interpreting the Indicator
Fractal Markers: The triangles above and below the bars indicate Williams Fractals. These markers help traders identify potential reversal points in the market.
Trailing Stops: The dynamic trailing stops are plotted as lines on the chart. These lines adjust based on the latest identified fractals, providing a visual representation of potential support and resistance levels.
Fill Colors: The optional fill colors between the trailing stops and the price action help traders quickly identify the current trend and potential pullback zones.
🔶 Disclaimer
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
Williams Fractals for ExtremesThis script, written in Pine Script (version 5), implements an indicator for the automatic detection and visualization of fractal extremes on the price chart. The core algorithm is based on Bill Williams' fractal theory and identifies local highs and lows, which are often used to determine potential reversal points and support/resistance levels in the market.
### Key Features:
#### Fractal Detection:
- The indicator identifies a fractal high if the middle candle in a sequence of five candles (two on the left and two on the right) has the highest value.
- A fractal low is identified if the middle candle in the same type of five-candle sequence has the lowest value.
#### Extreme Visualization:
- Fractal highs are displayed as red dots on the chart, signaling potential local peaks.
- Fractal lows are shown as green dots, indicating local troughs.
### Usage:
- The indicator is designed for use across all timeframes and can be applied to both cryptocurrency and traditional financial markets.
- Highlighted points allow traders to quickly spot key levels, aiding in identifying potential zones for trade entry or exit.
### Application in Trading:
#### Identifying Key Levels:
- Fractal highs and lows can serve as resistance and support levels. A breakout beyond a fractal in either direction may signal a continuation of movement in that direction.
#### Finding Reversal Points:
- Fractal extremes indicate potential market reversals, making them useful in counter-trend trading strategies.
#### Adaptability to Market Conditions:
- The indicator updates dynamically with the appearance of new candles, providing traders with real-time fractal extreme levels.
### Settings and Parameters:
- In its current version, the script does not include customizable settings as it implements the standard concept of Williams' fractals.
Fractal Trend Detector [Skyrexio]Introduction
Fractal Trend Detector leverages the combination of Williams fractals and Alligator Indicator to help traders to understand with the high probability what is the current trend: bullish or bearish. It visualizes the potential uptrend with the coloring bars in green, downtrend - in red color. Indicator also contains two additional visualizations, the strong uptrend and downtrend as the green and red zones and the white line - trend invalidation level (more information in "Methodology and it's justification" paragraph)
Features
Optional strong up and downtrends visualization: with the specified parameter in settings user can add/hide the green and red zones of the strong up and downtrends.
Optional trend invalidation level visualization: with the specified parameter in settings user can add/hide the white line which shows the current trend invalidation price.
Alerts: user can set up the alert and have notifications when uptrend/downtrend has been started, strong uptrend/downtrend started.
Methodology and it's justification
In this script we apply the concept of trend given by Bill Williams in his book "Trading Chaos". This approach leverages the Alligator and Fractals in conjunction. Let's briefly explain these two components.
The Williams Alligator, created by Bill Williams, is a technical analysis tool used to identify trends and potential market reversals. It consists of three moving averages, called the jaw, teeth, and lips, which represent different time periods:
Jaw (Blue Line): The slowest line, showing a 13-period smoothed moving average shifted 8 bars forward.
Teeth (Red Line): The medium-speed line, an 8-period smoothed moving average shifted 5 bars forward.
Lips (Green Line): The fastest line, a 5-period smoothed moving average shifted 3 bars forward.
When the lines are spread apart and aligned, the "alligator" is "awake," indicating a strong trend. When the lines intertwine, the "alligator" is "sleeping," signaling a non-trending or range-bound market. This indicator helps traders identify when to enter or avoid trades.
Williams Fractals, introduced by Bill Williams, are a technical analysis tool used to identify potential reversal points on a price chart. A fractal is a series of at least five consecutive bars where the middle bar has the highest high (for a up fractal) or the lowest low (for a down fractal), compared to the two bars on either side.
Key Points:
Up fractal: Formed when the middle bar shows a higher high than the two preceding and two following bars, signaling a potential turning point downward.
Down fractal: Formed when the middle bar has a lower low than the two surrounding bars, indicating a potential upward reversal.
Fractals are often used with other indicators to confirm trend direction or reversal, helping traders make more informed trading decisions.
How we can use its combination? Let's explain the uptrend example. The up fractal breakout to the upside can be interpret as bullish sign, there is a high probability that uptrend has just been started. It can be explained as following: the up fractal created is the potential change in market's behavior. A lot of traders made a decision to sell and it created the pullback with the fractal at the top. But if price is able to reach the fractal's top and break it, this is a high probability sign that market "changed his opinion" and bullish trend has been started. The moment of breaking is the potential changing to the uptrend. Here is another one important point, this breakout shall happen above the Alligator's teeth line. If not, this crossover doesn't count and the downtrend potentially remaining. The inverted logic is true for the down fractals and downtrend.
According to this methodology we received the high probability up and downtrend changes, but we can even add it. If current trend established by the indicator as the uptrend and alligator's lines have the following order: lips is higher than teeth, teeth is higher than jaw, script count it as a strong uptrend and start print the green zone - zone between lips and jaw. It can be used as a high probability support of the current bull market. The inverted logic can be used for bearish trend and red zones: if lips is lower than teeth and teeth is lower than jaw it's interpreted by the indicator as a strong down trend.
Indicator also has the trend invalidation line (white line). If current bar is green and market condition is interpreted by the script as an uptrend you will see the invalidation line below current price. This is the price level which shall be crossed by the price to change up trend to down trend according to algorithm. This level is recalculated on every candle. The inverted logic is valid for downtrend.
How to use indicator
Apply it to desired chart and time frame. It works on every time frame.
Setup the settings with enabling/disabling visualization of strong up/downtrend zones and trend invalidation line. "Show Strong Bullish/Bearish Trends" and "Show Trend Invalidation Price" checkboxes in the settings. By default they are turned on.
Analyze the price action. Indicator colored candle in green if it's more likely that current state is uptrend, in red if downtrend has the high probability to be now. Green zones between two lines showing if current uptrend is likely to be strong. This zone can be used as a high probability support on the uptrend. The red zone show high probability of strong downtrend and can be used as a resistance. White line is showing the level where uptrend or downtrend is going be invalidated according to indicator's algorithm. If current bar is green invalidation line will be below the current price, if red - above the current price.
Set up the alerts if it's needed. Indicator has four custom alerts called "Uptrend has been started" when current bar closed as green and the previous was not green, "Downtrend has been started" when current bar closed red and the previous was not red, "Uptrend became strong" if script started printing the green zone "Downtrend became strong" if script started printing the red zone.
Disclaimer:
Educational and informational tool reflecting Skyrex commitment to informed trading. Past performance does not guarantee future results. Test indicators before live implementation.
HTF LQ SweepThe following script recognises QL sweeps in the desired time frame with alarm function!
Theory:
There is liquidity above highs and below lows. If this is tapped and the market reacts strongly immediately, the probability of a reversal is greatly increased! In the chart, this is defined in such a way that a candle has its wicks BELOW the old low, but the close is ABOVE the old low. the same applies to the high, of course!
In such a case we have an "LQ Sweep"
How does the script work?
Williams 3 fractals are used as a basis. These are meaningful as lows or highs. Whenever a fractal is created, the price level is saved.
This means that not only the last fractal is relevant, but all historical fractals as long as they have not been reached!
If a candle reaches the level, but shows a rejection and closes within the level again, we have our "LQ Sweep" setup.
In the script you can select the timeframe in which the market has to be analysed. When the QL sweep occurs, an alert is triggered. This saves a lot of time because you can analyse different markets in different timeframes at the same time!
Each QL Sweep is marked in the chart when we are in the selected timeframe. These can also be deactivated so that only the last sweep is displayed.
Benefits for the trader:
An LQ sweep is a nice confirmation for a reversal.
If we have such an LQ sweep, we can wait in the lower timeframe for further confirmation, such as a structural break, to position our entries there.
The alarm function saves us a lot of time and we only go to the chart when a potential setup has been created.
You can set different time frames in the script: The selected time frame is then scanned and sends a signal when the event occurs.
Essa's Indicator 2.0Essa's Indicator V2: Beginner's Guide
This custom TradingView indicator has been designed to help you identify key trading opportunities based on session highs/lows, volatility, and moving averages. Below is a breakdown of the main features:
1. Exponential Moving Averages (EMAs)
Fast EMA (Blue Line): Tracks the short-term market trend (default: 9-period EMA).
Slow EMA (Red Line): Tracks the longer-term market trend (default: 21-period EMA).
You can turn on/off the EMAs using the "Show EMAs" option in the settings.
EMAs help smooth out price action and give a clearer picture of trends. A crossover of the fast EMA above the slow EMA can signal an upward trend, while the reverse may indicate a downward trend.
2. Session Highs and Lows
The indicator tracks price highs and lows for three major trading sessions:
London Session (Red): Highlighted in red. Active between 08:00 and 17:00 (LDN timezone) or 03:00 and 12:00 (NY timezone).
New York Session (Blue): Highlighted in blue. Active between 12:00 and 21:00 (LDN timezone) or 07:00 and 16:00 (NY timezone).
Asia Session (Yellow): Highlighted in yellow. Active between 22:00 and 08:00 (LDN timezone) or 18:00 and 03:00 (NY timezone).
Highs and lows for each session are plotted on the chart as lines. Breakouts from these levels can signal important trading opportunities:
London High/Low: Red lines.
New York High/Low: Blue lines.
Asia High/Low: Yellow lines.
The background color also changes depending on the active session:
London: Light red background.
New York: Light blue background.
Asia: Light yellow background.
3. Breakout Alerts
You can set alerts when the price breaks above or below session highs/lows:
Break Above London High: Alert triggered when the price crosses the London session high.
Break Below London Low: Alert triggered when the price falls below the London session low.
Similar alerts exist for the New York and Asia sessions as well.
4. Volatility-Adjusted EMA
The EMAs in this indicator are adjusted based on volatility (ATR - Average True Range). This allows the EMAs to respond to market conditions more dynamically, giving you more accurate trend readings in volatile markets.
5. ZigZag Feature (Optional)
You can enable the ZigZag feature to help visualize the price action's highs and lows:
ZigZag Lines: Highlight major peaks and troughs in price movements, helping you spot trends more easily.
This is helpful for identifying reversals or trend continuations.
6. Fractal Markers
This indicator uses fractals to mark potential turning points in the market:
Green Triangles (Above the Price): Indicate up fractals (potential reversal points where the price could move upwards).
Red Triangles (Below the Price): Indicate down fractals (potential reversal points where the price could move downwards).
Fractals can be a helpful confirmation tool when identifying entry and exit points.
7. Custom Timezone Options
You can choose between London (LDN) and New York (NY) timezones in the settings to adapt the session times to your trading location. This ensures the session high/low markers are displayed correctly for your trading region.
By default, the New York (NY) timezone is enabled for FXCM charts in the UK.
For BTC charts, you will need to switch to the appropriate time zone manually.
Thanks
Essa
Correct Fractal Swings by CRYPTOFORThis indicator adjusts and enhances the normal 3-fractal swing. The author of this definition, uncle_travis, takes into account swings with the absorption of 3 candles and uses them as structure points.
Pivotal MomentsPivotal Moments draws lines for each of up to 500 pivot high and pivot low levels that have never been revisited at the present moment in time. After the Pivotal Moments indicator has been loaded onto chart and any of the subsequent realtime bars that are formed touch or cross a pivot level it is deleted. The duration for how long any touched or crossed pivot levels remain on chart before deletion may be extended by N bars or N units of time.
There are user selectable options for the following:
• Pivot Bars Left : the number of lower highs or higher lows that must be formed before a possible pivot bar can occur.
• Right : the number of lower highs or higher lows that must be formed after potential pivot to validate a pivot bar.
• Lines Show As : the choice of line style to use for the drawn pivot levels includes Dashed, Dotted, or Solid.
• Wide : the number of lines wide for how thick the drawn pivot levels are desired to be on the chart.
• Delay Removal : the number of units that touched or crossed pivot levels will persist on chart.
• Units : the choice of which delay unit type includes nBars, nSecs, nMins, nHrs, or nDays.
• Extend Right : the number of bars right of current bar to extend drawn pivot levels.
• Show : the number of maximum recent drawn pivot levels to keep on chart.
• Colors Used : the colors used for pivots high, low, and dual pivot bars.
• Show Price Labels : the choice whether to show prices for levels.
• On Right : the choice to move prices to right of pivot levels.
• Show Pivot Bars : the choice to colorize pivot bars.
If desired, alerts can be received for whenever new touches or crosses occur for both pivot highs and pivot lows by creating a single Alert. Note that these alerts are triggered by realtime bars which by their very nature are repainting prices, thus the alert creation window will warn of this with an orange exclamation symbol. For an illustration of how to create alerts for this indicator click the chart below:
Credit: this indicator was originally built for @Luckshury, who has graciously given me permission to publish it publicly.
NOTICE: This is an example script and not meant to be used as an actual strategy. By using this script or any portion thereof, you acknowledge that you have read and understood that this is for research purposes only and I am not responsible for any financial losses you may incur by using this script!
Support & Resistance ZonesTitle: A Comprehensive Guide to the Support & Resistance Zones Indicator
Introduction
In the world of technical analysis, the Support & Resistance Zones indicator plays a crucial role in identifying potential trading opportunities. These zones are essential for traders looking to capitalize on bounces or break and retests. In this article, we will delve into the specifics of the Support & Resistance Zones indicator, outlining how it works, how it finds and marks zones, and the various options available for traders.
What the indicator is about
The Support & Resistance Zones indicator, developed by @HarryCTC, is a powerful tool for detecting areas of potential price reversal or consolidation in a financial market. These zones are significant as they can act as a guide for traders to make informed decisions on entering or exiting positions. Specifically, the indicator helps identify:
1. Support Zones: Areas where the price has a tendency to bounce back up after falling, indicating a potential buying opportunity.
2. Resistance Zones: Areas where the price has a tendency to reverse after rising, indicating a potential selling opportunity.
How the indicator finds its zones
The Support & Resistance Zones indicator utilizes pivot points to identify potential support and resistance levels. By analyzing the fractal structure of the price chart, the indicator identifies key turning points, known as bull and bear fractals. The bull fractal is a high pivot point, while the bear fractal is a low pivot point.
The fractal structure is determined by the 'Switch Zone Period' input, which can be adjusted to suit the trader's preferences. A higher value will result in fewer zones being identified, while a lower value will result in more zones.
How it marks zones and why it marks zones
The indicator marks the support and resistance zones by creating rectangular boxes around the identified fractal points. The zones are extended horizontally from the fractal point, allowing traders to visualize the potential areas of price reversal.
The zones are marked for the following reasons:
1. To provide a clear visual representation of potential support and resistance levels.
2. To help traders identify potential entry and exit points based on the price's reaction to these zones.
3. To serve as a reference for stop-loss and take-profit levels when planning trades.
The indicator's for traders trading bounces or break and retests
Traders who focus on trading bounces or break and retests can benefit immensely from the Support & Resistance Zones indicator. By providing a visual representation of key support and resistance levels, the indicator enables traders to:
1. Identify potential buying opportunities at support zones where the price is likely to bounce back up.
2. Identify potential selling opportunities at resistance zones where the price is likely to reverse after rising.
3. Make informed decisions on stop-loss and take-profit levels based on the price's proximity to support and resistance zones.
4. Monitor the market for potential breakouts or breakdowns when the price breaches these zones.
Indicator options
The Support & Resistance Zones indicator offers several customizable options to suit the trader's preferences. These options include:
1. Switch Zone Period: Adjusts the number of periods used to calculate the fractal structure, influencing the number of identified zones.
2. No. of Displayed Zones: Determines the maximum number of zones displayed on the chart, ranging from 1 to 8.
3. Zone Extension: Adjusts the horizontal extension of the support and resistance zones.
4. Resistance Zone Color: Customizes the color of the resistance zone boxes.
5. Support Zone Color: Customizes the color of the support zone boxes.
6. Zone Border Color: Customizes the color of the zone box borders.
Conclusion
The Support & Resistance Zones indicator is a valuable tool for traders looking to identify potential trading opportunities based on the price's interaction with support and resistance levels. By providing a clear visual representation of these zones, the
indicator allows traders to make informed decisions on entry and exit points, stop-loss, and take-profit levels. With customizable options, the indicator can be tailored to suit individual trading preferences and strategies.
Fractals PivotsWhich trader does not know pivots? There are a lot of varieties of pivots indicators of which some are a default on most trading platforms. So what better way to challenge yourself then to create your own kind of pivots. Let's welcome the idea of Fractal Pivots.
Williams Fractal or fractals is a technical analysis indicator introduced by the famous trader Bill Williams in his book ‘Trading Chaos’. He developed it on the basis of the Chaos Theory and trading psychology. The indicator is centred around the idea that there is repetition in price behaviour and fractals can provide an insight into those repetitive patterns.
How does the indicator turn these into pivot lines?
The user will set a time period in which the script will look for fractals. It will then remember all the fractals that happen during that time period.
Let's say you are trading the hourly chart with a weekly pivot setting like in the chart this script is published on. The script will highling the 1h fractals that are happening. Then the next week it will use these exact fractals from previous week to draw the pivot lines.
Another example here is an 8h chart. Look how it uses the previous week fractals this week.
Let me know if you find a very great fractal length+timeframe setting where the levels really get respected. I would really appreciate that.
[JL] Fractals ATR BlockI decided to combine Fractal ROC , ATR Break, and Order Blocks to an Indicator
The Fractal ROC , ATR Break, and Order Blocks indicator combines three concepts to help traders identify potential trade opportunities and manage risk. By using a combination of Fractal ROC , ATR Break, and Order Blocks, traders can gain a deeper understanding of market dynamics and make more informed trading decisions.
Fractal ROC is a momentum-based indicator that calculates the rate of change of the price between fractals, which are turning points in the market. It is calculated by taking the difference between the closing price and the lowest price in the previous n+1 periods, and dividing it by the difference between the open price 2n periods ago and the lowest price in the previous n+1 periods. This calculation is done for both up and down fractals. When the Fractal ROC value is greater than the ROC Break Level (as determined by the input variable roclevel), it indicates a potential momentum shift in the market. This can be used to identify potential trade entries or exits, depending on your trading strategy.
ATR Break is an indicator that helps traders identify significant price movements in the market. It measures the distance between the price and the Average True Range (ATR), which is a measure of the volatility of the market. ATR Break is calculated by taking the difference between the close and high/low, and dividing it by the previous ATR value. This calculation is done for both up and down movements. When the ATR Break value is greater than the ATR Break Level (as determined by the input variable atrlevel), it indicates a significant move in the market. This can be used to identify potential breakouts or breakdowns, and can be used to set stop-loss and take-profit levels.
An Order Block is a price level where significant buying or selling activity has taken place. The order blocks made by ATR Break and Fractal ROC are drawn using boxes on the chart. When the ATR or Fractal ROC level is breached, a box is drawn with the high and low of the candle that breached the level as the top and bottom of the box, respectively. The box is then extended to the right until the end of the chart or until another ATR or Fractal ROC level is breached, at which point a new box is drawn. This allows traders to easily identify significant price movements and potential support and resistance levels on the chart. When an Order Block is identified, it can be used as a potential support or resistance level . If price approaches an Order Block from below, it is likely to bounce off this level and continue in an upward direction. Similarly, if price approaches an Order Block from above, it is likely to bounce off this level and continue in a downward direction. Traders can use these levels to identify potential trade entries or exits, as well as to set stop-loss and take-profit levels.
Overall, the Fractal ROC , ATR Break, and Order Blocks indicator is a powerful tool for traders who want to identify potential trade opportunities and manage risk. By combining these three concepts, traders can gain a deeper understanding of market dynamics and make more informed trading decisions. As with any indicator, it is important to use it in conjunction with other analysis tools and to have a clear trading plan in place.
